The need to know

The need to know for the week ending 7th August 2020

The need to know from Reuters global network of journalists

UPS shares hit new high as pandemic drives healthcare, e-commerce shipments

United Parcel Service Inc (UPS.N) exceeded analyst estimates for quarterly profit and revenue on Thursday as pandemic-fueled rises in lucrative healthcare and air shipments helped offset a margin squeeze from surging e-commerce home deliveries, sending shares up as much as 17.6%.

Zara owner Inditex pledges support for fashion supply chain as coronavirus bites

Spanish fashion group Inditex (ITX.MC) on Wednesday pledged to maintain workers’ rights throughout its supply chains and the stability of payments to suppliers, as the garment industry wrestled with a plunge in orders during the COVID-19 crisis.

Shipping’s share of global carbon emissions increases

Carbon emissions from shipping rose in the six-year period to 2018 and accounted for 2.89% of the world’s CO2, a study released on Tuesday showed, amid growing pressure on the industry to bring levels down.

Under Armour revenue beats estimates on e-commerce strength

Sportswear maker Under Armour Inc beat analysts’ estimates for quarterly revenue on Friday, as consumers shopped more online during the coronavirus lockdowns, sending its shares up about 8% in premarket trading.

U.S. shale supply chain will emerge smaller from price war, pandemic

Slumping oil and gas prices as a result of the pandemic and the volume war earlier in the year between Saudi Arabia and Russia have slashed employment in the U.S. oil and gas fields at some of the fastest rates on record.

Anti-Amazon campaigners in France team up to say ‘non’ to firm’s expansion

At his veterinary practice near the French city of Lyon one morning in June, Gilles Renevier prepared to perform a castration on a poodle. When not attending to animals, he turns to his other role: attempting to neuter the expansion ambitions of Inc.

Pandemic revs up race for U.S. online car sales

After years of being part of a future that never quite arrived, the coronavirus pandemic has put U.S. online car sellers on the map.

Ferrari’s orders accelerate after virus hit to full-year outlook

Ferrari (RACE.MI) trimmed its full-year earnings forecast on Monday after second-quarter income fell 60% due to the impact of the coronavirus pandemic, but said orders were “very strong,” sending the luxury carmaker’s shares up nearly 4%.

Clorox won’t have enough disinfecting wipes until 2021, its CEO says

Grocery shelves won’t be fully stocked with Clorox’s disinfecting wipes until next year, CEO Benno Dorer told Reuters on Monday, as the world’s biggest cleaning products maker struggles with overwhelming pandemic-led demand for its top product.

At-risk Caribbean scrambles to prepare for hurricanes during pandemic

Caribbean nations were scrambling to adapt storm shelters to prevent the spread of coronavirus and stock up on supplies, with thousands of people already evacuating their homes as the hurricane season gets underway, aid agencies warned on Monday.

Thai exports may shrink by 15% this year: shippers

Thailand's exports may contract by 15% this year as the coronavirus pandemic hits global demand and a stubbornly strong baht THB=TH adds to pressure, a Thai shipping association said on Tuesday.

SoftBank-backed BigCommerce shares jump nearly three-fold in Nasdaq debut

SoftBank-backed BigCommerce Holdings Inc’s BIGC.O shares jumped nearly three-fold in their market debut on Wednesday, marking the biggest opening pop for a U.S. listing this year.

Amazon posts biggest profits ever at height of pandemic in U.S. Inc (AMZN.O) on Thursday posted the biggest profit in its 26-year history as online sales and its lucrative business supporting third-party merchants surged during the coronavirus pandemic.

Amazon starts preparations to launch in Sweden Inc has started preparations to launch in Sweden, marking its first step to establish a local presence in a Nordic country.

U.S. trade deficit shrinks in June

The U.S. trade deficit narrowed in June as exports rebounded following several months of decreases, suggesting an improvement in global demand after being depressed by the COVID-19 pandemic.

Samsung crafts India comeback as anti-China wave surges

Samsung Electronics Co Ltd (005930.KS) is forging a comeback in India’s smartphone market with a new range of budget devices and a ramped-up online presence, aiming to recoup ground ceded to Chinese rivals such as Xiaomi Corp (1810.HK).

Taking on SpaceX, Amazon to invest $10 billion in satellite broadband plan Inc (AMZN.O) said on Thursday it will invest more than $10 billion to build a network of 3,236 satellites that will provide high-speed broadband internet services to people around the world who lack such access.

From elsewhere around the web

Study Shows Industrial and Logistics Sectors Likely to Rebound Faster Than Expected Beyond 2021. [Supply and Demand Chain Executive]

DSV Panalpina Restores Guidance to Near Pre-Pandemic Level. [Supply Chain Dive]

COVID-19’s Urban Exodus Will Force Supply Chains to Adapt. [Supply Chain Dive]

Home Depot Adds 3 Warehouses as DIY Demand Grows. [Supply Chain Dive]

UK Authorities Issue New Guidelines For Maritime Sector. [Port Technology]

Global supply chain flaws exposed by pandemic, analysts report. [Lloyd’s List]

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